Angels to Allocators Ben Jacobs - Crypto Funds, Emerging Managers, and the Future of Digital Asset Investing - ep 2
Feb 10, 2025
In this engaging discussion, Ben Jacobs, founding managing partner of Senius Capital, dives into the world of crypto fund-of-funds. He shares how his initial exposure to Bitcoin ignited his passion for digital assets. Ben reveals the intricacies of fundraising and building relationships with managers while discussing the challenges of measuring performance across different fund types. He emphasizes the importance of transparency, specialization, and humility in identifying emerging talent. Lastly, Ben forecasts the future landscape of crypto, touching on innovations and fundraising trends.
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Back Small VC Funds For Access
- For venture, target small, hard-to-source fundones and fundtwos to access outsized returns and differentiated dealflow.
- Diversify by geography, ecosystem, and sector to cover the full asset-class opportunity set.
Hunger Beats Pedigree Often
- Ben prefers raw, hungry managers who live in the community over highly pedigreed but less engaged founders.
- Those hungry managers often outperformed polished spinouts in Senius's experience.
Bad Fund Experience Taught Gut Checks
- Senius once invested in a polished fund that misappropriated assets; SEC action followed and assets were frozen.
- They learned to trust their gut, withdraw when uneasy, and avoid opaque 'black box' managers.